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Real estate major DLF reported a dip in its consolidated net profit for the quarter ended September, with earnings falling by 15 per cent to INR 1,180.09 crore. The decline was primarily attributed to reduced revenue from operations, which dropped to INR 1,643.04 crore compared with INR 1,975.02 crore during the same period last year. However, the company witnessed a slight rise in its total income, which increased to INR 2,261.80 crore from INR 2,180.83 crore a year earlier, reflecting a mixed performance for the quarter.
DLF, one of India's largest real estate companies by market capitalisation, reported earlier this week that its consolidated net profit for the quarter ended September fell by 15 per cent to INR 1,180.09 crore, compared to INR 1,381.22 crore in the corresponding period last year. The fall in profit was largely due to a decline in revenue from operations, which dropped to INR 1,643.04 crore during the July-September quarter from INR 1,975.02 crore in the same period of the previous fiscal year. Advertisement
Despite this reduction in operational revenue, the company's total income recorded an uptick, rising to INR 2,261.80 crore from INR 2,180.83 crore a year ago. The growth in total income indicates that while DLF faced challenges in its core operational revenue, other income sources helped cushion the overall financial performance for the quarter.
Although DLF's operational revenue took a hit during the recent quarter, leading to a fall in consolidated profit, the marginal increase in total income suggests that the company continues to maintain a balanced financial structure. The results highlight the ongoing market fluctuations affecting real estate earnings even for leading players like DLF. With its strong market position and diversified portfolio, the firm is expected to focus on stabilising its revenue streams in the coming quarters to maintain profitability.
Source - PTI
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